BTC XBI 10/20 78 put for 0.16. Sold for 0.94. No point in leaving the risk for $16 in theta over 21 days.
Sometime the market gods giveth, sometimes they taketh away. No point in tempting the market gods!
Apparently the SPX and SVXY only go up forever although the charts are starting to look like 2000 and 2008 so there may be a lot of irrational exuberance. So my SVXY 78 call (14 DTE) which I just rolled last week is still DITM and the time value was down to 0.12 so rolled to 28 DTE 78 for 1.15 credit. Brings cost basis down to 10.97 and 16.05 depending on lot.
Now profit is $5312 in 7 weeks on 4 contracts and I am not complaining but if I had not sold the short calls and just did the synthetic long with the protective put would be up 7k+.
I will try to roll it up if we ever get a pullback but right now so far ITM hard to roll it up for a credit unless I go way out in time.
Maybe better just to sell puts on this one and take assignment to go long or start a synthetic long on a volatility spike. Will keep the experiment going, there are still 68 weeks left for it to play out but the first 7 weeks are promising!
I am done paying for option services but Fishback just made their high accuracy options DVD available for $99. Usually sells for $2000. I doubt there is anything earth shattering in it, but they had 300% returns confirmed last year so for $99 I think it is worth taking a look. I will get it and if I discover anything new pass it along. Tripling an account in 1 year would certainly help anyone’s bottom line and I believe that included about 5 losses, not sure if it went full loss or they closed it early or were able to roll it and that is what I am interested in. I think they stick with SPY and QQQ.